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In its report, Institutional Shareholder Services said it supports Icahn nominees Alapont and Merksamer and recommended the removal of Talbert and incumbent nominee Robert Sprague to make room for them. Institutional Shareholder Services does not support Lipinski.

Rancor leading up to Transocean's May 17 annual shareholder meeting in Zug, Switzerland, has increased since Icahn disclosed earlier this year that he had acquired a sizable stake in the company and that he would push for change.

The Houston Chronicle reported Tuesday that Alapont is named in a 2004 criminal complaint in Spain that accuses him of taking part in a multimillion-dollar fraud against employees of a company where he used to be an executive.

Alapont said in an interview that he hasn't been served with the complaint. A Spanish prosecutor said the case is still pending and that prison time is still possible for Alapont and other defendants.